BENGALURU: India’s second largest software exporterInfosys, which posted strong results for the fourth straight quarter, has handed out an average wage hikes of about 6-12% for all its offshore employees, while on-site employees have been given average hikes of about 2%.

On a conference call with investors on Friday, Infosys CEO Vishal Sikka said that the 2015-16 fiscal year had been a strong one for Infosys and that the company was poised to achieve industry leading growth in the 2016-17 financial year.

Top performers will, however, be rewarded with above-average hikes, an Infosys executive said.

Last year, Infosys had handed out average wage hikes of about 6.5%, following a disappointing year for the company when revenues grew by about 7%.

The average wage increase of 6-12% could set the tone for salary hikes across India’s $160-billion IT industry and other top companies such as TCS and Wipro could follow suit with salary increases around the same range.

Infosys said it has factored in the impact of wage hikes on its margins and expects to post average margins of 24-25% in the 2016-17 financial year.

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After PSU banks, the government is likely to infuse capital in two chronically ill telecom PSUs BSNL and MTNL, and the Union Cabinet is likely to take a decision on 4G spectrum allocation to them by the third week of the current month after DoT places the note before it for consideration.

At a high-level meeting at the PMO late Tuesday, it was also decided that the two telcos will frame a Voluntary Retirement Scheme (VRS) to reduce their employee strength, which will be followed by a reduction in the retirement age to 58.